Dear User Advisorymandi.com or Pro advisory Championship (PAC) having purpose to provide you analytical skills of numbers of SEBI registered Research Analysts and Investment Advisers to choose best one among them for your hard earned investments. We Advisorymandi.com or Pro advisory Championship (PAC) not promote any adviser or provide any advise through Call, SMS and Social media platforms or give assurance of any return.

Register as Broker

Interested In

Update Profile

NEW DELHI (Reuters) - India expects growth of around 7 percent in the first half of the next fiscal year, two officials said, painting a rosier picture for the economy than many economists after Prime Minister Narendra Modi's shock move to abolish large banknotes.

Nearly 90 percent of transactions used to be in cash in India, which was gripped by a severe shortage of currency after Modi's Nov. 8 decision to take 500-rupee and 1,000-rupee notes, worth about $7.5 and $15, out of circulation overnight.

Several private economists have said the move could drag down growth in the next fiscal year to 6.5 percent to 7 percent, as small businesses fired workers, consumer demand fell and farmers' winter sowing efforts were hit.

Demonetisation, as it is termed, has become a major election issue in states going to the polls this year, such as Uttar Pradesh, India's most populous state with 200 million people, where the performance of Modi's ruling Bharatiya Janata Party could shape his political future.

The notes, accounting for 86 percent of the cash in circulation, were withdrawn in an effort to crush India's huge shadow economy, boost tax revenues and promote the use of bank accounts and digital transactions, but perceptions that the ambitious operation was botched have hurt Modi's standing.

The government officials, involved in budget discussions for the 2017/18 fiscal year, acknowledged that growth in Asia's third-largest economy would still be less than the 7.75 percent initially projected for the current fiscal year.

It could even fall as low as 4 percent in this year's January-March quarter, they said.

The budget, expected to be presented on Feb. 1, leaves Modi little room to hand out large, populist sops, despite demands by politicians, businessmen and other lobby groups for relief to the industry and taxpayers.

"There is no scope for big-ticket spending, like debt waivers for farmers, or transferring money into poor people's accounts," said one of the officials, who requested anonymity as they were not authorized to speak to the media.

India plans to cut its fiscal deficit to 3 percent of GDP in the fiscal year to March 2018, versus this year's target of 3.5 percent.

Modi can fund increases of 10 percent to 15 percent in some ministries' budgets and focus on job creation in areas such as farming, construction and small businesses, the officials said.

Finance Minister Arun Jaitley could announce tax incentives for individuals and firms to boost consumer demand, amid lingering uncertainty over the implementation of a nationwide goods and services tax, said one of the officials.

A senior farm ministry official said budget spending on the sector for the next fiscal year could rise to about 500 billion rupees ($7.37 billion), up 40 percent on the current year.

Major subsidies, including those on food, fertilisers and petroleum products, estimated at about 2.32 trillion rupees ($34.22 billion) for this fiscal year, are expected to go up only marginally, the officials said.

The officials said good monsoon rains could accelerate growth in the second half of the year.

Modi is staying within budget limits so far, despite a series of incentives to poor people, farmers, women and small businesses announced on New Year's Eve.

The incentives would only cost about 35 billion rupees a year, said Soumya Kanti Gosh, chief economic adviser at state-owned State Bank of India.

Dr. Ravindra Dhivare

Dr. Ravindra Dhivare

Advisorymandi.com is really appreciable . As they give proper calls & levels with proper SL. Advisorymandi,com teaches us, how to trade in share market in proper way. Personalized services also tell you about your services like, phone calls, reminders & other suggestions are really very appreciable with polite conversations.
Outstanding team effort as they are very cooperative , polite and helps in sorting out problems and queries in best possible manner.

SHAKTI

Working with Advisorymandi.com was the best decision of my life. The work is highly credible. A BIG... Read More

SHAKTI

Working with Advisorymandi.com was the best decision of my life. The work is highly credible. A BIG THANKS for their virtuoso services.

ADITYA

ADVISORYMANI.COM is a platform where you can know everything about share market and how to trade?It... Read More

ADITYA

ADVISORYMANI.COM is a platform where you can know everything about share market and how to trade?It is a best Platform for a beginner who has just started trading. Employee of advisorymandi are very friendly. They are always ready for you to help in any condition. From my opinion every beginner who wants to be a successful trader , they the should join "ADVISORYMANDI.COM"

MANDEEP

YOUR WORK SPEAKS VOLUMES OF THE KIND OF CONCEPTS IT IS-EFFICIENT,ORGANIZED and RESULT ORIENTED. WELL... Read More

MANDEEP

YOUR WORK SPEAKS VOLUMES OF THE KIND OF CONCEPTS IT IS-EFFICIENT,ORGANIZED and RESULT ORIENTED. WELL DONE!! ADVISORYMANDI.COM AND TEAM

Experts Pick

Rekha Chauhan

Weekly Outlook-Nifty

After forming Harami Pattern in weekly chat in the past two weeks, the NSE benchmark Nifty managed t...

Rekha Chauhan

Research

Rekha Chauhan

Weekly Outlook-Nifty

After forming Harami Pattern in weekly chat in the past two weeks, the NSE benchmark Nifty managed t...

Rekha Chauhan

Research

Rekha Chauhan

Weekly Outlook-Nifty

After forming Harami Pattern in weekly chat in the past two weeks, the NSE benchmark Nifty managed t...

OPINION POLL

Will Nifty attain previous Budget high(11,180) this year again?

Yes

No

Can't Say

Total Votes: 2010

Enter email-id to share this news

Important Information

Please fill the required Disclosure/Disclaimer.

Disclaimer

The information and material contained in these pages and the terms, conditions, and descriptions that appear are subject to change without prior notice. Investments in equity shares, debentures, commodities, etc, are not obligations of or guaranteed by the ADVISORYMANDI , and are subject to investment risks.....More